President Trump says he has a plan to considerably increase army spending: throughout-the-board cuts to different elements of the federal government.
“This protection spending improve shall be offset and paid for by discovering larger financial savings and efficiencies throughout the federal authorities. We will do extra with much less,” Trump said throughout his tackle to the Nationwide Governors Affiliation assembly.
The U.S. currently spends about $596 billion on its army — that is greater than the next seven most expensive militaries mixed. Trump reportedly needs to bump that quantity up virtually 10 % with a $fifty four billion price range improve.
Politico notes the Obama administration had already slated a $32 billion army improve for 2018. It isn’t clear whether or not that improve elements in to Trump’s $fifty four billion determine.
That cash’s supposed to return from the budgets of different non-safety federal businesses and packages. Specifics have not been made public but.
Several anonymous officials informed retailers to anticipate heavy cuts to the Environmental Safety Company’s $8.3 billion budget, in addition to the roughly $42.4 billion we spend on overseas assist.
The roughly $1.5 trillion we spend on Social Safety and Medicare, then again, will not be touched by these cuts.
Trump will ship his formal price range proposal to Congress in March.